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Mastercard Launches Tools for Banks to Build Digital Wallets in Existing Apps

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Mastercard Launches Tools for Banks to Build Digital Wallets in Existing Apps

Mastercard has launched wallet-building tools that let banks and fintechs add contactless payments to their apps.

The Mastercard Wallet Services supports iOS and Android, allowing companies to build payment features across both operating systems without managing separate integrations or EMVCo certifications.

The service includes software development kits and a Secure Element applet. It works with Mastercard Digital Enablement Service, the company’s tokenisation platform.

Apple’s NFC Shift Opens More Wallet Options

The launch follows Apple’s move to expand third-party access to the iPhone’s near-field communication technology in more markets.

Android has long supported multiple contactless wallets, while limited access to Apple’s payment hardware made it harder for developers to offer similar services across both platforms.

Pablo Fourez
Pablo Fourez

Pablo Fourez, Chief Digital Officer at Mastercard, said,

“While consumer adoption of alternative wallets will take time, expanded platform access gives banks and fintechs new opportunities to innovate .

Ultimately, consumers could be the biggest winners of these changes, gaining access to a broader range of digital wallet experiences, rewards, value-added services and payment options offered through the apps they already use every day.”

Mastercard is working with several partner banks to develop new digital wallet features using the service.

Some are expected to launch in selected markets by the end of 2026.

Banks, fintechs and digital platforms could use the tools to offer contactless payments alongside rewards, discounts, loyalty points and other services within their existing apps.

Mastercard Wallet Services is available in more than 200 countries and territories where Mastercard Digital Enablement Service operates.

Its iOS capabilities are being introduced in markets where Apple has enabled third-party NFC access, including the United States, the United Kingdom and Europe.

 

 

Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific

The post Mastercard Launches Tools for Banks to Build Digital Wallets in Existing Apps appeared first on Fintech Singapore.



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